International Coast Minerals (VSE) has started a $340,000 drilling, trenching and sampling program on its Bear gold prospect in the Kennedy River area west of Port Alberni on Vancouver Island.
The company is drilling up to 6,500 ft to test the Black vein. Assays from initial drill holes include one intersection grading 0.936 oz gold per ton over 7.05 ft, another grading 0.313 oz over 5.98 ft. A third hole gave 0.321 oz across 6.08 ft.
The 100%-owned prospect is adjacent to the Tommy claim group which was optioned to Kerr Addison Mines (TSE). Kerr Addison spent $180,000 on the Tommy prospect in 1987 but plans for this year have not been finalized.
A public offering completed in December netted International Coast Minerals $459,000 which will be used to fund the program and for working capital.
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